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KMG EP Jan-Sept profit jumps on higher crude price
November 13, 2017 / 7:44 AM / 10 days ago

KMG EP Jan-Sept profit jumps on higher crude price

ALMATY (Reuters) - Kazakh upstream company KazMunaiGas Exploration and Production RDGZ.KZ posted a ‍net profit of 168 billion tenge (385.80 million pounds) for the first nine months of 2017 on Monday, up from 76 billion tenge in same period of 2016​.

Revenue for the same period rose 29 percent year-on-year to 666 billion tenge, largely as a result of a 24 percent increase in the price of Brent LCOc1, higher export sales and a switch to a new processing scheme, it said in a statement.

Reporting by Olzhas Auyezov; editing by Vladimir Soldatkin

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